The Division of Assets in LGBT+ Divorce
The Supreme Court’s recognition of same-sex marriage gave LGBT+ couples equal rights of marriage under federal law. But this also led to a growing need among LGBT+ couples for legal representation in a divorce.
When a married couple chooses to go their separate ways, there may be a wide range of considerations that can impact their personal and financial wellbeing.
The division of assets can be complex, and couples may not agree on how assets should be divided.
Given the prevalence of domestic partnerships during the time when same-sex marriage was not recognized at the federal level, the legal issues related to the division of assets can be even more complicated.
Division of Property and Other Assets in LGBT+ Divorce
Like any marriage, LGBT+ couples can acquire assets during their marriage. These assets can include retirement accounts, real estate property, and businesses.
A divorce will require shared assets to be divided in a manner that’s fair and with the best interests of each party in mind. Consulting with an experienced family law attorney can help you determine how to divide assets so that you can protect your interests.
In addition to assets, debts may also be incurred by the couple during their marriage. Your attorney can help you make sure that you and your partner’s debts are divided accordingly so that you’re not left responsible for any outstanding debts.
The division of assets can be settled in Georgia family courts or through mediation. Having the legal resources you need can minimize the cost and hassle of lengthy court cases by helping you establish terms for the division of your assets.
Identifying Marital Assets
Assets are divided by the courts in divorce cases unless the couple has come to an agreement in advance. Many couples live together before they get married. So the date of your marriage will determine what assets can be divided.
Marital assets include those that were acquired during the marriage period. These are subject to division by Georgia family law courts. Separate assets are those that were acquired before the marriage.
The federal government’s legalization of same-sex marriage may lead to unfair settlements for couples who were together for a significant amount of time prior to the recognition of same-sex marriage.
Georgia family law attorneys who understand the unique circumstances and needs of LGBT+ couples can help you determine the best way to account for and divide marital assets.
Court judges may use their discretion in dividing marital and separate assets depending on the circumstances of your case.
A family law attorney can help you identify and locate all the assets that must be considered in a divorce. They can help you protect your assets and interests so that you maintain your financial wellbeing during and after your divorce.
Legal Protection in LGBT+ Divorce
Your attorney can evaluate all your assets and the ways they were used by you and your partner. They can determine your rights under Georgia state law and give you the options that can meet your needs.
With the help of a skilled family law attorney, you can make important decisions with greater confidence and peace of mind. Whether you’re dividing assets or determining spousal or child support, an attorney can help you through the divorce process.
LGBT+ couples need to understand the legal issues they can face when they decide to divorce. Although no one can determine what’s best for you and your family better than you can, judges can step in and decide how your assets will be divided as well as who gets custody of children and how financial support will be provided.
Settlement agreements made early on can make the division of assets and other aspects of divorce easier.
Work with an attorney who understands the issues that LGBT+ couples have to face when divorcing. The better the legal protection you have, the more likely you’ll be to secure the wellbeing of your family as you move on after a divorce.